The country's foreign exchange reserves (FOREX) fell USD 2.238 billion to USD 570.74 billion in the week ended August 12, according to the Reserve Bank of India (RBI) data.
The foreign exchange reserves fell by USD 897 million to USD 572.978 billion during the prior week, which concluded on August 5. According to the Weekly Statistical Supplement provided by the RBI on Friday, the reduction in Foreign Currency Assets (FCA), a significant portion of the total reserves, was the cause of the reserves' decline in the reporting week ending August 12. According to the data, FCA decreased by USD 2.652 billion to USD 506.994 billion.
When expressed in dollar terms, FCA takes into account the impact of appreciation or depreciation of non-US currencies held in foreign exchange reserves, such as the euro, pound, and yen. To reach USD 40.618 billion, gold reserves increased by USD 305 million. A USD 102 million rise brought the value of Special Drawing Rights (SDRs) to USD 18.133 billion.
According to the data, the nation's reserve position with the IMF increased by USD 7 million to USD 4.994 billion during the reporting week.
FOREX-Dollar declines following unexpected US inflation
Rupee-Dollar Exchange rate today, Weekend market updates